Standard

The Climate Bonds Standard is a screening tool for investors and governments which allows them to easily prioritize climate and green bonds with confidence that the funds are being used to deliver climate change solutions.

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Become a Verifier

How to become an Approved Verifier

Approved Climate Bonds Verifiers must demonstrate that they have sufficient competence and experience in three key areas:

  1. Issuance of debt instruments in the capital markets and management of funds within issuing organisations
  2. Technical characteristics and performance of low carbon climate resilient projects & assets
  3. Assurance procedures and provision of assurance services in line with accepted international standards (ISAE3000 or equivalent).

Verifiers are expected to use Verification Teams of professional staff and/or insured contractors to ensure that they meet all of these requirements for each engagement under the Climate Bonds Standard.  Verification Teams for specific engagements must have appropriate competencies and experience for the particular characteristics of the issuer, the bond and the assets being financed.

Applications from verifiers are assessed by the Climate Bonds Standard Secretariat for completeness and then packaged for the Climate Bonds Standard Board to consider.  Verification companies may apply to the Climate Bonds Standard Board for approval at any time during the year.  Applications must address all of the requirements listed below.

Approval of verifiers by the Climate Bonds Standard Board is based on specific scopes in terms of geographic coverage and technical competence:

  • Geographic coverage of the approval is aligned with the coverage provided by the verifier’s insurance policies for professional indemnity / professional liability
  • Technical scope of the approval is determined by the verifier’s levels of experience and expertise in the various asset classes covered by the Climate Bonds Standard.

Approved Climate Bonds Verifiers are listed on the Climate Bonds website along with their geographic scope, technical scope and relevant contact details.  Approved verifiers must sign the Climate Bonds Verifier Agreement and receive the formal Letter of Approval and Certificate before they can commence their first verification engagement under the Climate Bonds Standard & Certification Scheme. 

Training, support and oversight of Approved Verifiers are undertaken directly by the Climate Bonds Standard Secretariat using in-house and contracted expertise and resources. For the details of the Climate Bonds Standard Assurance Framework and Guidance for Verifiers, please visit our Verifier Resource Page.

 

Information and evidence verifiers must include in their application for approval

Verifier approval decisions taken by the Climate Bonds Standard Board are based on consideration of information contained in the application and other documents provided by the verifier to the Climate Bonds Standard Secretariat. 

  1. Applicant verifiers must demonstrate that the Verification Teams they will use for engagements have competence and experience in:
    1. Issuance of debt instruments and management of funds within issuing organisations
    2. Technical characteristics and performance of low carbon climate resilient projects & assets
    3. Assurance procedures and provision of assurance services in line with recognised standards (ISAE3000 or equivalent).

The competence of the individual staff and/or contractors to be used in Verification Teams can be evidenced via detailed resumes, project references, work products and other information relevant to the requirements above.

 

  1. Verifiers must provide detail on their company structure, organisational capabilities and financial stability for the Climate Bonds Standard Board to consider.  This includes:
    1. Formal company details including registration numbers, company officers, and business addresses
    2. Information on the company’s ownership structure, business model, financial history and stability, and competence of the management team
    3. Membership of professional organisations, government licenses and relevant certifications
    4. Information on material contractual obligations or contingencies and any lawsuits or government proceedings involving the company.

 

  1. Verifiers must have Professional Indemnity / Professional Liability insurance in place which covers their verification work under the Climate Bonds Standard & Certification Scheme.  The insurance policy must specify the geographic scope of the coverage.